President of the United Arab Emirates, Sheikh Mohammed bin Zayed, announced in a tweet on Sunday, the establishment of a fund with a capital of three billion dirhams ($816.84 million) to support the space sector, and launched a new initiative to develop modern radar satellites, as reported by Reuters.
Meanwhile, Dubai Ruler Sheikh Mohammed bin Rashid said via Twitter that the fund aims to “support the establishment of national companies in the space sector, support new national strategic and research projects, and develop the capabilities of our Emirati engineering cadres in space technology.”
Source: National News Agency
